by The Probiotic Ingredients Market is estimated to be valued at US$ 5340.5 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Probiotic ingredients include bacteria strains like Lactobacillus, Bifidobacterium etc. that are beneficial for digestion, immune function and intestinal microbial balance when consumed in adequate amounts. They are available as dry ingredients in powdered form or as liquid concentrates and are used in supplements, functional foods and clinical nutrition products. Probiotic ingredients promote gut health, immunity and overall wellness to customers looking for innovative nutraceutical products.
Market key trends:
The Probiotic Ingredients Market is expected to witness significant growth owing to rising awareness about gut and digestive health among customers. Research has shown the role of probiotics in managing gut disorders, enhancing nutrient absorption and reducing the risk of certain diseases. With growing global health concerns, customers are increasingly opting for probiotic enriched supplements and fermented food & beverages. The market growth is also driven by expanding application of probiotic ingredients in diverse product segments beyond traditional dairy foods. Manufacturers are innovating with novel delivery formats like gummies, chewable tablets to attract millennial customers. Furthermore, advancements in encapsulation and microencapsulation technologies have enhancing shelf-life of probiotic products, fuelling market revenues.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the probiotic ingredients market is low due to the high investments required for R&D and manufacturing. Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of several probiotic ingredient manufacturers. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of substitutes. Threat of new substitutes: The threat of new substitutes is moderate as manufacturers are conducting extensive R&D to develop innovative probiotic strains. Competitive rivalry: High as companies compete on the basis of product quality, innovation, and price.
SWOT Analysis
Strengths: Diversified product portfolio and strong brand reputation of key players. Growing awareness about digestive and gut health benefits of probiotic ingredients.
Weaknesses: Potential side effects associated with certain probiotic strains. High R&D costs for new product development.
Opportunities: Rising adoption of probiotic ingredients in functional foods and beverages. Increasing demand for preventive healthcare solutions.
Threats: Stringent regulatory standards delay product launches. Threat from substitute ingredients like prebiotics.
Key Takeaways
The Global Probiotic Ingredients Market Demand is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing health concerns among consumers regarding digestive and gut health. North America dominated the market in 2023 with nearly 30% revenue share owing to higher health supplement consumption in the U.S. The Asia Pacific probiotic ingredients market is projected to grow at the fastest rate during the forecast period due to rising disposable incomes and healthy eating trends in China and India.
Key players operating in the probiotic ingredients market are Kerry Inc., Chr. Hansen Holding AS, Koninklijke DSM NV, DuPont De Neumors, Inc., Lallemand Inc., Associated British Foods PLC, Nutris, Archer Daniels Midland Company, Advanced Enzyme Technologies, and Orffa. These companies are focusing on new product launches, mergers, acquisitions and partnerships to strengthen their product portfolio and presence across major markets.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
